Lot 103 Freehold Multi-Let Residential Investment Comprising Five Flats Plus Office UnitAuction Date:
5th May 2022
28 Kents Road, Torquay, Devon, TQ1 2NL
Currently let at £36,674 per annum
An attractive freehold Victorian villa situated in an elevated position in the Wellswood Village area of Torquay, a desirable area for both holiday and residential accommodation due to its proximity to the beach, local shops, amenities and the town centre.
The property is arranged over three floors and offers five self-contained flats and one office unit, and is currently fully let. There are three separate access points to the building with the benefit of a cellar storage room, whilst to the front is a brick paved hardstanding area, suitable for parking of two vehicles.
The building has undergone full re-decoration of the exterior by its current owner and decorated (in part) internally and is likely to be of interest to investment purchasers looking to add to their property portfolio.
Accommodation
Main entrance via steps to the side of the property into communal entrance/stairs and cellar access:
First Floor
Office
Large office, kitchen area, store area and cloakroom/W.C.
Tenancy
Let on a Licence Agreement from 9th April 2021 at a current rental of £92 per week, paid monthly.
Flat 4
Hallway, living room/kitchen and bedroom with en-suite.
Tenancy
Let on an Assured Shorthold Tenancy Agreement from 21st May 2021 at a current rental of £120 per week, paid four weekly.
Second Floor
Flat 2
Living room, kitchen, utility area, bedroom and shower room.
Tenancy
Let on an Assured Shorthold Tenancy from 14th February 2022 at a current rental of £122.50 per week, paid monthly.
Flat 3
Living room, kitchenette, bedroom and shower room.
Tenancy
Let on an Assured Shorthold Tenancy from 27th January 2022 at a current rental of £580 per calendar month.
Private access from front of property:
Ground Floor
Flat 5
Living room, kitchen/dining room, bedroom and bathroom.
Tenancy
Let on an Assured Shorthold Tenancy from 21st May 2021 at a current rental of £550 per month.
Private access from steps at front of property:
Flat 6
First Floor
Open-plan living/kitchen/bedroom and shower room.
Tenancy
Let on an Assured Shorthold Tenancy from 14th February 2022 at a current rental of £110 per week.
Outside
Two storage areas and brick paved frontage with parking for two vehicles.
Auctioneer's Note 1
The tenants of the First Floor Office have given notice to fully vacate by the end of May 2022. A copy of the letter confirming this will be in the legal pack.
Auctioneer's Note 2
There are 20 solar panels situated on the roof of the property from 29th February 2019 until 27th February 2037. The income for this from 13th December 2020 to 23rd June 2021 was £1,440.48, details of which will be in the legal pack available to download from the Clive Emson website. This is currently disconnected and quotes for reinstatement are in the legal pack.
Auctioneer's Note 3
We are informed by the seller that a programme of compliance updates have been carried out including fire alarm/safety standards, electrical and gas certificates and emergency lighting on the inside of the building, details of which will be in the legal pack.
Auctioneer’s Note 4
Floor plans will be included in the legal pack.
Viewing
External only.
All Flats Council Tax Band A
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
